LOS ANGELES: Entertainment Partners, a global leader in payroll and financial management for the entertainment industry, announced Tuesday it has agreed to acquire CASHét Entertainment, LLC, a top provider of digital payment solutions for film and TV productions.
The acquisition will enhance EP’s ability to offer faster, more accurate financial services to productions worldwide. CASHét’s platform includes digital purchasing cards, accounts payable payments and fraud-prevention tools for vendor verification.
“CASHét has built an innovative digital payment platform that is trusted across the industry,” said Markham L. Goldstein, EP’s president and CEO. “Bringing CASHét into our ecosystem will allow us to provide productions with an unmatched, fully integrated financial solution.”
After the deal closes, CASHét will continue supporting all clients and maintain integrations with payroll providers.
“Joining EP marks an exciting new chapter,” said Paul Rogers, CASHét’s president. “With EP’s global reach, we can expand our payment solutions to more markets.”
Founded 12 years ago, CASHét serves over 2,500 productions annually, including major studio and independent projects. The company operates in the U.S., Canada, the U.K., Europe and Australia. EP plans to invest in further global expansion.
Centerview Partners advised EP on the deal, while William Blair served as CASHét’s financial advisor. Terms were not disclosed.